Colony Capital Looking at Investment Deal With Wanda’s Legendary (Report)
financier Colony Capital may be in negotiations to buy a minority share stake in Legendary Entertainment.
It reported that Colony may use a new fund, Colony Media Partners for the stake purchase, and that the implied valuation would be “significantly lower” than the $3.5 billion that Wanda paid for Legendary in 2016.
Participants in Colony Media Partners are not currently known.Bloomberg also said that Saudi Arabia’s Public Investment Fund had also shown renewed interest in Legendary, after apparently discussing a $700 million investment in 2018.Contacted by Variety on Monday local time, Wanda offered no comment.
Representatives for Legendary, similarly, chose not to make any response to Variety’s enquiries.Colony Capital is headed by high profile investor Tom Barrack.
Colony previously bought U.
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